TWANGALE RESORT & SPA

CHIEF FINANCIAL OFFICER

The Chief Financial Officer (CFO) is responsible for the overall financial leadership, stewardship, and governance of Twangale Resort & Spa.

The role provides strategic financial direction to support the long-term growth, profitability, and sustainability of the business while ensuring compliance with International Financial Reporting Standards (IFRS), the Uniform System of Accounts for the Lodging Industry (USALI), Zambian statutory requirements, and corporate governance best practices.

As a key member of the Executive Leadership Team, the CFO partners with the General Manager and Ownership to maximise profitability, safeguard assets, optimise cash flow, improve operational efficiency, and support sound commercial decision-making across the hotel, waterpark, restaurants, conferences, events, and ancillary business units. The CFO serves as custodian of the company’s financial resources, internal controls, and risk management framework.

Strategic Financial Leadership

• Develop and implement the company’s long-term financial strategy aligned with business objectives.
• Advise the General Manager and Ownership on financial planning, investments, and growth opportunities.
• Participate in executive decision-making and business planning.
• Evaluate new business opportunities, capital projects, and expansion initiatives.
• Develop financial models to support strategic investments.
• Drive sustainable profitability and shareholder value.
• Promote a culture of financial accountability throughout the organisation.

Financial Planning, Budgeting and Forecasting

• Lead the annual budgeting process.
• Coordinate departmental operating budgets.
• Prepare rolling forecasts and long-term financial plans.
• Analyse budget variances and recommend corrective actions.
• Monitor departmental financial performance against approved budgets.
• Produce monthly budget-versus-actual performance reports.
• Develop financial scenarios to support strategic decisions.

Financial Reporting

• Ensure accurate and timely preparation of monthly financial statements, statement of financial position, statement of comprehensive income, cash flow statements, management reports, ownership reports, capital expenditure reports, and departmental profitability reports.
• Provide financial analysis and recommendations to Executive Management.
• Ensure all reports comply with IFRS, USALI, company policies, and statutory requirements.

Treasury and Cash Flow Management

• Manage daily cash flow and prepare rolling cash flow forecasts.
• Monitor liquidity and optimise working capital.
• Monitor foreign exchange exposure and ensure adequate cash reserves.
• Develop investment strategies for surplus funds where applicable.
• Monitor borrowing and financing arrangements.

Accounting Operations

• Oversee the accounting function, including General Ledger, Accounts Payable, Accounts Receivable, Income Audit, Payroll, Fixed Assets, Cost Accounting, Inventory Accounting, Cash Management, Bank Reconciliations, and the Financial Close Process.
• Ensure month-end and year-end closing processes are completed accurately and on time.
• Maintain strong documentation and reconciliation discipline across all finance processes.

Internal Controls and Risk Management

• Develop and maintain an effective internal control environment to protect company assets and prevent fraud.
• Ensure proper segregation of duties, review financial controls, and monitor financial risks.
• Implement risk mitigation strategies and strengthen governance frameworks.
• Ensure compliance with delegated authority limits.

Audit and Compliance

• Coordinate internal audits, external audits, tax audits, and regulatory reviews.
• Ensure timely implementation of audit recommendations.
• Maintain compliance with Zambia Revenue Authority requirements, Companies Act requirements, labour legislation, banking regulations, and hotel licensing requirements.

Procurement and Cost Management

• Provide financial oversight for procurement, contract management, supplier performance, inventory control, cost reduction initiatives, and capital procurement.
• Ensure competitive sourcing while maintaining quality standards.
• Review significant procurement decisions in line with company policy and approved authority levels.

Asset Management

• Protect and maximise the value of hotel assets through fixed asset register management, capital planning, depreciation management, asset verification, capital expenditure monitoring, insurance reviews, and property valuations.
• Support long-term asset replacement planning.

Information Systems

• Oversee finance-related systems, including the Property Management System (PMS), ERP systems, accounting software, payroll systems, Point of Sale (POS), and business intelligence reporting.
• Support accuracy, access control, system integrity, and reporting reliability across finance systems.

Leadership and People Management

• Coach finance staff, manage performance, develop succession
• Promote ethical behaviour, continuous learning, and employee engagement.
• Build strong working relationships with all operational departments.

Corporate Governance

• Promote ethical financial practices, transparency, accountability, and compliance with Board policies.
• Maintain effective governance reporting and confidential handling of financial information.

Qualifications and Experience

• Bachelor’s Degree in Accounting, Finance, Commerce, or a related field.
• MBA or Master’s Degree in Finance will be an added advantage.
• Must possess one or more of the following: ZICA, ACCA, CIMA, or CPA.
• Membership with the Zambia Institute of Chartered Accountants (ZICA) is mandatory.
• Minimum 10 years’ progressive finance experience.
• Minimum 5 years in senior financial leadership.
• Luxury hotel or resort experience preferred.
• Experience with hospitality financial systems.
• Experience with USALI reporting.
• Strong budgeting and forecasting experience.
• Proven leadership experience.

Core Competencies

• Financial reporting
• Budgeting
• Treasury management
• Strategic planning
• Taxation
• Internal controls
• Audit
• Financial analysis
• Risk management
• Asset management
• Procurement governance
• Hospitality accounting
• IFRS
• USALI

• Develop and implement the company’s long-term financial strategy aligned with business objectives.
• Advise the General Manager and Ownership on financial planning, investments, and growth opportunities.
• Participate in executive decision-making and business planning.
• Evaluate new business opportunities, capital projects, and expansion initiatives.
• Develop financial models to support strategic investments.
• Drive sustainable profitability and shareholder value.
• Promote a culture of financial accountability throughout the organisation.
• Lead the annual budgeting process.
• Coordinate departmental operating budgets.
• Prepare rolling forecasts and long-term financial plans.
• Analyse budget variances and recommend corrective actions.
• Monitor departmental financial performance against approved budgets.
• Produce monthly budget-versus-actual performance reports.
• Develop financial scenarios to support strategic decisions.
• Ensure accurate and timely preparation of monthly financial statements, statement of financial position, statement of comprehensive income, cash flow statements, management reports, ownership reports, capital expenditure reports, and departmental profitability reports.
• Provide financial analysis and recommendations to Executive Management.
• Ensure all reports comply with IFRS, USALI, company policies, and statutory requirements.
• Manage daily cash flow and prepare rolling cash flow forecasts.
• Monitor liquidity and optimise working capital.
• Monitor foreign exchange exposure and ensure adequate cash reserves.
• Develop investment strategies for surplus funds where applicable.
• Monitor borrowing and financing arrangements.
• Oversee the accounting function, including General Ledger, Accounts Payable, Accounts Receivable, Income Audit, Payroll, Fixed Assets, Cost Accounting, Inventory Accounting, Cash Management, Bank Reconciliations, and the Financial Close Process.
• Ensure month-end and year-end closing processes are completed accurately and on time.
• Maintain strong documentation and reconciliation discipline across all finance processes.
• Develop and maintain an effective internal control environment to protect company assets and prevent fraud.
• Ensure proper segregation of duties, review financial controls, and monitor financial risks.
• Implement risk mitigation strategies and strengthen governance frameworks.
• Ensure compliance with delegated authority limits.
• Coordinate internal audits, external audits, tax audits, and regulatory reviews.
• Ensure timely implementation of audit recommendations.
• Maintain compliance with Zambia Revenue Authority requirements, Companies Act requirements, labour legislation, banking regulations, and hotel licensing requirements.
• Provide financial oversight for procurement, contract management, supplier performance, inventory control, cost reduction initiatives, and capital procurement.
• Ensure competitive sourcing while maintaining quality standards.
• Review significant procurement decisions in line with company policy and approved authority levels.
• Protect and maximise the value of hotel assets through fixed asset register management, capital planning, depreciation management, asset verification, capital expenditure monitoring, insurance reviews, and property valuations.
• Support long-term asset replacement planning.
• Oversee finance-related systems, including the Property Management System (PMS), ERP systems, accounting software, payroll systems, Point of Sale (POS), and business intelligence reporting.
• Support accuracy, access control, system integrity, and reporting reliability across finance systems.
• Coach finance staff, manage performance, develop succession
• Promote ethical behaviour, continuous learning, and employee engagement.
• Build strong working relationships with all operational departments.
• Promote ethical financial practices, transparency, accountability, and compliance with Board policies.
• Maintain effective governance reporting and confidential handling of financial information.

• Financial reporting
• Budgeting
• Treasury management
• Strategic planning
• Taxation
• Internal controls
• Audit
• Financial analysis
• Risk management
• Asset management
• Procurement governance
• Hospitality accounting
• IFRS
• USALI

• Bachelor’s Degree in Accounting, Finance, Commerce, or a related field.
• MBA or Master’s Degree in Finance will be an added advantage.
• Must possess one or more of the following: ZICA, ACCA, CIMA, or CPA.
• Membership with the Zambia Institute of Chartered Accountants (ZICA) is mandatory.